Kennametal CEO puts emphasis on R&D

Kennametal CEO and MAPI Board of Trustees Chairman Carlos Cardoso says his company has made a significant investment in research and development as part of its goal to have new products generate a minimum of 40% of annual sales. Cardoso said the company tries to get a jump on what products people will need in the coming years, instead of just making new products and then trying to sell them. A lack of skilled workers, however, is still a problem for the company and manufacturing as a whole, he added.